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Athabasca Oil Announces 2022 First Quarter Results including Record $44 million Free Cash Flow, $110 million in Debt Redemptions and releases its Annual ESG Report

Athabasca Oil Announces 2022 First Quarter Results including Record $44 million Free Cash Flow, $110 million in Debt Redemptions and releases its Annual ESG Report
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Athabasca Oil Corporation Announces 2020 Year-end Results

(1) Refer to the “Reader Advisory” section within this press release for additional information on Non-GAAP Financial Measures and production disclosure.
(2) Includes realized commodity risk management loss of $9.4 million and gain of $29.1 million for the three months and year ended December 31, 2020, respectively (three months and year ended December 31, 2019 - $2.1 million loss and $44.0 million loss).
(3) Includes available credit under Athabasca s Credit Facility and Unsecured Letter of Credit Facility (see page 15 of the MD&A).
(4) The face value of the 2022 Notes is US$450 million. The 2022 Notes were translated into Canadian dollars at the December 31, 2020 exchange rate of US$1.00 = C$1.2732 (2019 – C$1.2965).
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